6 Key Points From Goldman On Obama's Jobs Plan

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Goldman spells out 6 key points in regards to the Obama jobs speech.

We summarize.

At $447 billion, the plan is a bit bigger than expected, coming to about 3% of GDP.$253 billion comes from tax cuts, mainly payroll tax cuts.The spending side --- which includes state aid and infrastructure -- is the least likely part to be approved.The plan includes labor-market reforms, including "bridge to work" plans. Expect Congress to support these plans, because the cost is probably low.The President will continue to work on a mortgage refinance plan, but there are no details.Don't expect a resolution on this until about November, as any "deal" will likely get worked into the super-committee agreement.

Earlier we posted some of Nomura's analysis on the plan's odds of passage and what it could do to GDP >

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